Market LIVE: Sensex gains 100 points; Nifty tops 13,700; HDFC, Indusind up
Indian benchmark equity indices opened flat amid mixed global cues. Nifty Pharma index was up 4%
Gold prices firm
Gold and silver prices today maintained their upward momentum on hopes of a breakthrough in US stimulus talks. On MCX, February gold futures rose 0.35% to ?49,770 per 10 gram, extending gains to the third day. Silver futures gained 1.2% to ?66746 per kg. In global markets, gold prices were steady near a one-week high today.
Navin Fluorine International up 3%
The company said its Board has approved capital expenditure of ?195 crore for setting up of a multi-purpose plant at Dahej, Gujarat.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
"We are at a very important juncture-13700. This is the upper end of the resistance patch. Either we make a U turn from here and correct a little or we take off and achieve newer highs of 14000-14200. We need to see how the markets close today. 13450-13500 is a good support for the Nifty."
Jubilant FoodWorks up 4%
The company, which operates the Domino’s Pizza and Dunkin’ Donuts restaurants in India, has announced the launch of a new restaurant chain selling biryani under the Ekdum! brand, capitalizing on the popularity of the rice-based dish among Indian diners.
IndusInd Bank up 2%
The private lender said Sebi has granted one-month extension for its promoters to infuse residual capital in lieu of conversion of warrants, issued to them last year, worth over ?2,695 crore into equity.
Markets open flat to higher; Sun Pharma among best gainers
Sensex was 41 points higher at 46,707.61, while Nifty was at 3,701.05, up
Sensex, Nifty positive at pre-open
At 0903 am, Sensex was at 46,707, up 40 points, while Nifty was at 13766, up
Stocks to Watch: Hero MotoCorp, Maruti Suzuki, Wipro
Hero MotoCorp, Maruti Suzuki, Wipro, Videocon, telecom and sugar companies will be in focus toady. Besides these, Bombay Rayon, Jubilant Foodworks and Indusind Bank will also be in limelight.
Federal Reserve keeps interest rate zero
The Federal Reserve, as widely expected, left its key short-term interest rate near zero following its latest policy meeting Wednesday. The Fed also strengthened its commitment to support the U.S. economy, promising to maintain its massive asset purchase program until it sees “substantial further progress" in employment and inflation. Fed Chair Jerome Powell said the case for fiscal stimulus is “very, very strong" as the pandemic continues to rage
Indian markets seen flat
Indian benchmark equity indices may open little changed on Thursday tracking weak trend on SGX Nifty and mixed global equities. Analysts expect domestic markets to stay choppy during the day.
SGX Nifty was trading 0.24% lower in early trade. On Wednesday, Sensex rose 0.87% to close at a fresh record high of 46666.46 points, while Nifty ended at an all time high of 13682.70 points, up 0.85%.
Asian indices mostly lower
In Japan, the Nikkei and Topix index both dipped 0.16% each in early trade. South Korea’s Kospi declined 0.22%. Heng Seng up 0.56% while Shanghai was trading flat.
US markets end mixed
Wall Street was mixed on Wednesday, with the Nasdaq hitting a record high as investors awaited a potential fiscal economic stimulus package after the Federal Reserve repeated a pledge to keep its benchmark interest rate near zero. In US, S&P500 gained 0.2%, Nasdaq rose 0.5% while Dow Jone fell 0.15%
Watch our Stock Market Target Calls Quality, Track sheet – Click Here or Subscribe us for Stock Market Trading >>>> Stock Cash Tips